Benefit of Storing Cars, Boats & Bikes for Winter

You may be eligible for a credit if you store your vehicles for the winter.

As the weather changes in many parts of the country, we reluctantly look at putting away our summer toys: that convertible, pontoon boat or Harley-Davidson, for example. Even though we put away the summer fun to protect them against harsh winter elements, there can also be an insurance advantage.

Many insurance companies have a storage credit, so ask your agent if your provider offers a reduction in coverage credit for items stored for an extended period of time while not in use. If you are able to take advantage of an offer, make sure to check if you should follow up in the spring to reinstate your full coverage. 

Auto

In some Northern states you may be able to put your vehicle in storage and reduce coverage to other-than-collision - sometimes called comprehensive - coverage only. This typically requires a change to the policy to remove coverage. However, most carriers also require that you notify them when you want coverage added back to the policy in the spring. Some carriers build this feature into the pricing on policies for exhibition auto vehicles that clearly will not be driven in the winter.

Watercraft

As the temperatures start getting colder, experienced boaters prepare their watercraft to withstand harsh elements by storing them in a garage or shrink-wrapping the boat. Your watercraft policy may have an automatic layup period put in place at the time of issuance or renewal, providing months of reduced coverage at the insured’s choosing. During those months, coverage is limited to physical damage as outlined in the policy, and the annual premium reflects this layup period. If you have the layup period in place, there is no need to call your agent unless you decide to take the boat out before the specified end date of the layup period.

Motorcycle

If you aren’t riding your bike in the cold winter months, you may be able to specify a period of time your motorcycle will be in storage, saving you premium dollars. If you have several motorcycles, find out whether a premium savings applies to all motorcycles or only one.

Some companies have a “sunny day clause” in place just for the motorcycle layup period. If there is an abnormally warm day during the normal layup period and you decide to take the bike out for a one-time spin, liability coverage is provided. This depends on the ride being a one-time event and not driving it all the way to, say, Florida.

This loss control information is advisory only. The author assumes no responsibility for management or control of loss control activities. Not all exposures are identified in this article. Contact your local, independent insurance agent for coverage advice and policy service.